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India-based venture debt and alternative fund, BlackSoil has announced its first investment of Rs 10 crore in Holistic Remedies Private Limited (Oliva) through its new alternative investment fund, BlackSoil India Credit Fund.
“The fresh raise will be used by Oliva for their working capital requirement, general corporate purpose and to retire part debt,” the statement said.
Founded in 2008 by Dr. Prashant Soma, Sreyas Holistic Remedies Pvt Ltd (Oliva), currently operates 23 advanced clinics in 7 Indian cities and has treated more than 2,50,000 customers over the years. Led by committed founders, the company has over 80 in-house dermatologists and trichologists who have the requisite domain knowledge & best in class processes and equipment to run the business in a differentiated manner.
Speaking on the fundraise, Dr. Prashant Soma, Founder of Oliva, said, “We are extremely delighted with BlackSoil Group for reposing their faith in our company. We are hoping for many years of a fruitful relationship with Blacksoil and looking to continue to grow with investors who have put their beliefs behind our proven business model. With this round of funding, we plan to consolidate our affairs and prepare the company for the next level of growth trajectory.”
“It is our pleasure to partner with Oliva to help them grow in a market with limited organized players and massive growth opportunity to disrupt the unorganized sector. The Cosmetic & Dermatology procedural treatment market size is currently around INR 100 Billion which is expected to increase to double in the next 3-4 years. With a best in class product offering, Oliva has built an advanced ecosystem of facilities with qualified dermatologists and trichologists in the country.” Stated Blacksoil Co-founder Ankur Bansal.